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Gold Tests Last Week’s Low

Gold Tests Last Week’s Low

2012-03-13 23:10:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_gold_body_gold.png, Gold Tests Last Week’s Low

Prepared by Jamie Saettele, CMT

Gold tested last week’s low today before rebounding slightly. The yellow metal is extremely choppy and pattern lacks clarity. Continued weakness would expose support from the 12/21 high near 1650. A bearish channel may be developing gives the series of lower highs since late February.

Bottom Line (next 5 days) – no idea

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